Real Estate Trends – Dunstable, Massachusetts

Introduction:

Welcome back again for our latest real estate market trend report. For those of you that are here for the first time what we do in these reports is examine the real estate market in a city or town in Massachusetts or New Hampshire to evaluate the current conditions. We do this by looking at the changes in three key metrics year over year for the municipality to see how the market has changed and then evaluate what those observations might mean for that market moving forward.

Market Trends in Dunstable, MA – June 2015 and 2016:

The Dunstable, MA market has fallen off significantly since last year. The average prices were down significantly and the median prices were down quite a bit as well. The days on market were up a little bit as well. Inventory was down a little with 8 sales in June of 2015 down to 6 in June 2016.

Average Listing Prices:

We will first start off by looking at the average listing price. In Dunstable, MA the average listing price in June 2015 was $584,513. This was down to $403,267 in June 2016. This gives a massive decrease of 31.01% year over year.

Looking at the median prices we see that it was higher in 2016 and lower in 2015. For June of 2015 the median listing price for Dunstable, MA was $522,450 and in June 2016 it was $414,900 which now gives a smaller but still very significant decrease of 20.59%.

Average Sale Prices:

The next thing we will be looking at is the average sale prices. The average sale price for in Dunstable, MA in June of 2015 was $553,594 and in June 2016 that was down to $400,567. That gives another very sizeable decrease of 27.64%, not quite as high as the average list price.

We see the same pattern as we did for the median list price. For June of 2015 the median sales price for Dunstable, MA was $501,250 and in June 2016 it was $414,000 giving another big decrease of 17.41%.

Prices have gone down some for Dunstable, MA this month. The range for all four metrics was pretty large only going from roughly 17.5-31%. The averages were a bit higher than the medians with those ranging from about 27.5-31%. The medians were a bit lower going from about 17.5-20.5%. Since medians are the much more commonly used method prices are probably down much more on the lower side of that range. Overall the median sale price is the most preferred number to use in these types of evaluations. So best guess is that they are downright near the bottom of the range at a little under 18%, possibly a little more since all the other measures were significantly higher.

Average Days on Market:

Finally the last metric we look at are the average days on market, which is the measure of how long it takes for a property to sell in the current market. For Dunstable, MA the average days on market in June of 2015 were 126.88 and the average days on market for June 2016 were 137.00 giving a small 7.98% increase.

Dunstable, Massachusetts Summary:

The Dunstable, Massachusetts real estate market is down a lot since last year. The average prices were down significantly and the median prices were down substantially as well. The days on market were up a small amount as well which gives some additional support to a down market.

In summary if you are looking to sell a house in Dunstable, MA now you should expect to get a lot less for it than you would have gotten last year. You could also expect it to possibly take a little more time to sell compared to last year as well.